FTX 2.0: CEO confirms relaunch of crypto exchange

Current FTX CEO John J. Ray III confirms the relaunch of the bankrupt trading platform. Will this help aggrieved customers?

In FTX restructuring documents confirmed CEO John J. Ray III's relaunch of the crypto exchange. The timing of the opening is still unclear. Ray believes that a reopening possibly would provide more value to customers than simply liquidating assets and closing or selling the platform.

In a representative poll on Twitter, about 65 percent of respondents said they would use FTX 2.0.

The proprietary FTX token (FTT) reacted positively to the news a made a price jump of ten percent and is trading at just over one US dollar at the time of writing. Following FTX's bankruptcy, Ray was appointed as the new chief executive to secure the crypto exchange's remaining assets.

The trial of the founder, Sam Bankman-Fried, is scheduled for October. It remains to be seen when creditors can expect compensation.